But in Coogan’s script, the setting has been rolled back to 1969. It also has a new name – the working title is 'Far Out'.

Co-writer Jess Williams’ credits include Grantchester and Inspector George Gently.

Coogan added: “It has 15 or 20 characters of different sizes, various storylines that intersect. It’s something I am passionate about and know will make people laugh and move them. It’s about class, politics and, more importantly than any of that, it’s about people, characters, stories humanity.”

Steve Coogan presents the Edinburgh Comedy Award (Image: PA)

Christine Langan, chief executive of Baby Cow, producers of the new project, said: “It’s very much about now even though it’s set in the '60s and '70s because it’s about how ideological can you live. It’s clear that a lot of people who grew up on communes became very successful business people.”

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Coogan added that he is following a method similar to the one he employed on his 2013 film Philomena, in which he starred opposite Dame Judi Dench, in a story about a woman who has spent 50 years searching for her forcibly-adopted son, and a journalist’s attempt to help her find him.

“It is those same organic and funny things, letting the story lead you towards poignancy or comedy. It is about how people surprise you and how you shouldn’t judge people because you don’t know what their stories are.”